Understanding Labor Law: What Are the Essential Statutory Compliances for Companies?

Dear Friends,

My name is Prasad, and I work with a Private Limited company. I would like to inquire about all the statutory compliances under labor law.

Regards,
Prasad

Hi Prasad

1. The Employee Provident Fund & Miscellaneous Provisions Act, 1952

• Calculation of PF liability & preparation of Monthly Challan

• Maintenance of Provident Fund Register on monthly basis

• Preparation & Submission of Form 12-A on monthly basis

• Submission of PF Nomination forms for every new employee on monthly basis

• Preparation & Submission of Form-5 & Form-10 on monthly basis

• Preparation & Submission of Form-9 (if Form5 not submitted)

• Correspondence with PF Authorities whenever required

• Attend periodical Inspections by PF Officers & Comply accordingly

• Preparation & Submission of Annual Return

2. The Employees State Insurance Act, 1948

• Calculation of ESI liability & preparation of Monthly Challan

• Maintenance of ESI Register 32 on monthly basis

• Submission of ESI Declaration Forms for every employee on monthly basis

• Correspondence with ESI Authorities whenever required

• Attend periodical Inspections by ESI Authorities & Comply accordingly

• Preparation & Submission of ESI Half yearly Return

3. The Profession Tax Act, 1975

• Calculation of PT liability & preparation of Monthly Challan

• Preparation & Submission of Annual Assessment

• Correspondence with PT Authorities whenever required

• Attend Annual PT Assessment

4. The Bombay Labour Welfare Fund Act, 1953

• Calculation & Preparation of Half yearly Challan

• Attend periodical Inspections by LWF Authorities & Comply accordingly

• Preparation & Submission of Annual Assessment

• Correspondence with PT Authorities whenever required

• Attend Annual PT Assessment

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Regards

Sayed Iqbal

Hi Prasad,

You need to mention the nature of the industry you are working in because under labor law, there will be certain specific as well as some common statutory compliances that can vary from industry to industry and state to state. This information will make it easier for all of us to provide you with accurate details.

Bibhutosh Bhadauria

Hi Prasad,

I am Rahul, also from Pune. Please go through the attached file, which contains the checklist. It may be useful to you.

Regards,
Rahul Bhoite

Hi friends,

Could you please elaborate more on the compliance necessary for those covered under the Bombay Shops and Establishment Act?